I had never hired an investment management company in the past. Actually, I have always taken a very hands-on approach to business. I learned it from my dad - himself an entrepreneur. He did not believe in investment capital management with the help of a broker. He amassed a financial fortune, and all while doing the paperwork himself. Of course, he worked almost 80 hours a week and died at the age of 55 of a heart attack, so there are things about his way of living that I don\'t really want to emulate. Even so, managing investment myself was a hard habit to break.
Nonetheless, eventually I just could not handle it anymore. I am not sure if my investment portfolio had grown too diverse, too large, or if I just didn\'t have my dad\'s talent for figures. For whatever reason, I was too busy to manage the family business and manage my investments. Something had to give, and it was obvious what it was. I hired a good capital asset management firm the very next day.
Many things have been difficult about the new mutual funds company. The most hard, of course, was to give up some control over my investments. I tried to keep as tight a leash as possible as soon as I hired the investments management firm. I wanted to understand every transaction, consent to each decision, and in general. keep my hands in the pie at all times. Finally, my broker spoke to me honestly. He said that there was no point in having an investment manager if I was keeping trying to do all the work anyway. He then asked me very straightforwardly if I wanted him to do my investment management or not. I backed down, understanding he was right.
However, the hardest thing about investment management has been recognizing the fact that this company has done a better job than I have with it. Even with the cash that they charge me, I am still making a large amount more off of my investments than I ever have before. My investment portfolio has grown at twice its regular rate this year, and shows no sign of slowing down. At first, I had almost expected to have to take control back. Part of me had even hoped that investment management would turn out to be a wrong experiment. After all, it is difficult to admit that a third party can do something better than you can.
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